Internal Audit… Please Select All That Apply

question 36

Multiple Choice

Internal audit… Please select all that apply.

• A) Is appointed by the board of directors.
• B) Has a very wide ranging remit.
• C) Is completely independent when its reports are made to the audit committee and not to the executive directors.
• D) Focuses its audit work on the entire range of organisational operations.

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Definitions:

Hypothetical-Deductive Reasoning

Piaget’s formal operational concept that adolescents have the cognitive ability to develop hypotheses about ways to solve problems and can systematically deduce which is the best path to follow in solving the problem.

Formal Operations

The stage in Piaget's theory of cognitive development where abstract and logical thinking is developed, usually during adolescence.

Formal-Operational Thought

A stage in Piaget’s theory of cognitive development where individuals gain the ability to think abstractly and logically.

Trial-And-Error

A method of solving problems through repeated, varied attempts until success or an optimal solution is found.